The stock of TMAC Resources Inc (TSE:TMR) hit a new 52-week high and has $24.46 target or 27.00% above today’s $19.26 share price. The 6 months bullish chart indicates low risk for the $1.63 billion company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $24.46 price target is reached, the company will be worth $440.10M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 12,045 shares traded hands. TMAC Resources Inc (TSE:TMR) has risen 112.78% since March 29, 2016 and is uptrending. It has outperformed by 110.25% the S&P500.
TMAC Resources Inc (TSE:TMR) Ratings Coverage
Out of 2 analysts covering TMAC Resources Inc (TSE:TMR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $17.85 is the highest target while $6.25 is the lowest. The $13.93 average target is -27.67% below today’s ($19.26) stock price. TMAC Resources Inc has been the topic of 3 analyst reports since August 10, 2015 according to StockzIntelligence Inc. BMO Capital Markets initiated the stock with “Speculative Outperform” rating in Thursday, August 20 report. The firm has “Sector Perform” rating given on Monday, August 10 by National Bank Canada. National Bank Canada maintained TMAC Resources Inc (TSE:TMR) on Wednesday, July 20 with “Outperform” rating.
More notable recent TMAC Resources Inc (TSE:TMR) news were published by: Businesswire.com which released: “TMAC Resources Receives Amended Doris North Project Certificate” on September 26, 2016, also Wsj.com with their article: “Canada’s TMAC Resources Plans IPO” published on May 29, 2015, Marketwired.com published: “TMAC Resources Inc. Announces $80 Million Bought Deal Financing” on June 27, 2016. More interesting news about TMAC Resources Inc (TSE:TMR) were released by: Wsj.com and their article: “Canada’s TMAC Resources Boosts Target IPO Size to $109 Million” published on June 25, 2015 as well as Theglobeandmail.com‘s news article titled: “The Globe and Mail” with publication date: September 23, 2015.
TMAC Resources, Inc. is a Canada-based mineral exploration and development company. The company has a market cap of $1.63 billion. The Firm is involved in the exploration, evaluation and development of the Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada . It currently has negative earnings. Approximately 1,100 square kilometer Hope Bay Project gold deposit has approximately 4.5 million ounces of gold at an average grade of approximately 9.2 grams per ton gold (g/t Au), Inferred Mineral Resources totaling approximately 1.4 million ounces of gold at an average grade of 7.4 g/t Au and proven and probable mineral reserves totaling approximately 3.5 million ounces of gold at an average grade of 7.7 g/t Au.
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